Answer:
The debit adjustment to equipment would be $30,000.
Explanation:
Amount received for the equipment by Mortar from Granite - $370,000
Purchase price of the equipment = $400,000
Debit adjustment to equipment = Purchase price of the equipment - Amount received for the equipment by Mortar from Granite = $400,000 - $370,000 = $30,000
Therefore, the debit adjustment to equipment would be $30,000.
Answer:
$45,800
Explanation:
Coronado Industries
Cost of Equipment $762,00
Accumulated Depreciation
( $762,000 - 45,000 ) /10*9 years
=$717,000/10×9 years
=71,700×9 years
=$645,300
Therefore Dec 31,2012 book value of equipment will be:
= $762,000 - $645,300
= $116,700
Equipment sold $162,500
The gain to be recognize will be
= $162,500 - $116,700
= $45,800
1 January ,2012 to 31 December,2020 will give us 9 years
Answer:
IT HEPLS TO SOLVE ECONOMIC PROBLEMS ABOUT TRADITIONAL SUPERSTATION
Answer:
$2,560,000
Explanation:
impairment loss = division's book value - division's fair market value = $3,080,000 - $2,320,000 = $760,000
Assets held for sale are no longer depreciated, but they must be recorded at lower value between carrying cost and fair market value. Since the fair market value is lower than carrying value, then an impairment loss results.
loss on discontinued operations = loss from operations 2019 + impairment loss = $1,800,000 + $760,000 = $2,560,000
Answer and Explanation:
The internal and the external users or parties of accounting information are as follows
Internal users: These are the users who are belonged from the company i.e. shown below:
1. Owners
2. Managers
3.Employyes
External users: These are the persons who are outsiders such as
1. Suppliers
2. Customers
3. Tax authorities etc